Highlights include a fast-growing list of SaaS-based customers, another strategic acquisition, a key strategic partnership, and ongoing product enhancements
MINNEAPOLIS – June 22, 2022 – Sopheon, the leading international provider of software and services for Enterprise Innovation Management solutions, today announced that it has experienced impressive market momentum through the first portion of 2022. Exceptional progress has been evident on a variety of fronts – a flourishing customer base, dynamic expansion of the product offering via acquisition, market-conscious upgrades to the Accolade® innovation system, and a pivotal new partnership.
Customers – Sopheon’s international customer base continues to grow significantly. Since the start of the year, Sopheon has closed six new customer wins, outpacing the 10 total customer additions for the 2021 fiscal year. All six new customers are successfully expanding their innovation capabilities through Sopheon’s SaaS offering, Accolade. Additionally, Sopheon’s gross customer retention remains above 98% on a year-to-date basis, demonstrating continued success with the company’s transition towards a more recurring revenue model.
Global brands such as 3M, Mondelēz, LG CNS, Honeywell, Merck KGaA, Philips, BASF, Parker Hannifin and other market leaders across a variety of industries have trusted Sopheon for years. Sopheon is also seeing growing interest from mid-market companies that are eager to leverage Accolade's unique innovation management capabilities.
Acquisition – In May 2022, Sopheon accelerated its SaaS strategy from both functional and go-to-market perspectives with the acquisition of Solverboard. Solverboard’s multi-tenant product helps companies to dynamically find, align, test and deliver the best innovation and product ideas, bringing the innovation and product needs of professionals together so that they can focus on addressing front-end innovation challenges. Together with the December 2021 acquisition of ROI Blueprints, a project management solution that guides companies through the intricacies of project execution, Sopheon continues to significantly broaden its product offering.
Partnerships – Sopheon announced a partnership with The AIM Institute, the global leader in B2B voice-of-the-customer (VOC) training and software. With AIM’s Blueprinter® software automatically flowing into Sopheon’s Accolade innovation management software, companies are better able to manage innovation and new product development programs based on the customer’s stated business goals. This technology integration ensures that customer insights become the cornerstone of a company’s innovation processes.
Product news - Sopheon announced a series of intuitive upgrades to its flagship product, Accolade. Enhancements included real-time information sharing to ensure that stakeholders are completely informed and aligned with relevant information; deeper collaboration via a fully-integrated experience that enables users to easily engage team members; and valuable new insights from Sopheon’s Trended Metrics, a powerful evaluation tool that helps users determine whether their product or portfolio is on track with the company’s objectives. With an unprecedented level of transparency resulting in better analysis, a higher level of risk identification, and improved reporting, Accolade enables stakeholders to make faster, fact-based decisions that drive innovation forward.
“Sopheon continues to execute on our ambitious strategic vision, leading to impressive organizational strides on a wide range of fronts” said Greg Coticchia, CEO of Sopheon. “The first portion of 2022 has been an impressive start to the year, with a variety of notable accomplishments. We remain singularly focused on providing our customers and businesses around the world with an innovation system that is the standard for the industry and helps customers across verticals to unlock their innovative potential and attain significant market shares in their respective sectors.”
Accolade® is Sopheon’s flexible and scalable, single innovation system that provides companies the ability to more effectively manage innovation and new product development programs. Hundreds of long-standing blue-chip customers have experienced superior strategy-to-execution performance, increased time-to-market, streamlined operational costs, and greater product success.
Sopheon (LON: SPE) partners with customers to provide complete Enterprise Innovation Management solutions, including software, expertise and best practices to achieve exceptional long-term revenue growth and profitability. Sopheon’s Accolade solution provides unique, fully-integrated coverage for the entire innovation management and new product development life cycle, including strategic innovation planning, road mapping, idea and concept development, process and project management, portfolio management and resource planning. Sopheon’s solutions have been implemented by over 250 customers with more than 60,000 users in over 50 countries. Sopheon is listed on the AIM Market of the London Stock Exchange.
Sopheon and Accolade are trademarks of Sopheon plc.